Prepared by and Return to: J. Ross Macbeth, Esq. County Attorney 600 South Commerce Avenue Sebring, Fl 33870

SUBORDINATION OF RIGHT OF REVERSION

WHEREAS, by that certain dated July 23, 2009, as recorded in O.R. Book 2200, Page 438, of the Public Records of Highlands County, Florida, the property described therein was conveyed by HEARTLAND COMMUNITY LAND TRUST, INC., a Florida not-for- corporation, (“TRUST”) to HIGHLANDS COUNTY HABITAT FOR HUMANITY, INC., a Florida not-for-profit corporation, (“HABITAT”), whose address is 459 South Commerce Ave., Sebring, Florida 33870, subject to a right of reversion retained by TRUST; and

WHEREAS, HABITAT, has entered into a Construction Loan Agreement dated August 24, 2010, (the “Construction Loan Agreement”) with HEARTLAND NATIONAL BANK, a national banking corporation, (“BANK”), whose address is 320 U.S. Highway 27 North, Sebring, Florida 33870, for a construction loan in the amount not to exceed the principal sum of $750,000.00 (the “Construction Loan”) to fund Phases I and II of the Mason’s Ridge project, secured by a Mortgage dated August 24, 2010, recorded at O.R. Book 2252, Page 209 of the Public Records of Highlands County, Florida, as modified by Modification of Mortgage dated August 24, 2011, recorded at O.R. Book 2320, Page 372, of the Public Records of Highlands County, Florida, as further modified by Modification of Mortgage dated August 24, 2012, recorded at O.R. Book 2345, Page 990, of the Public Records of Highlands County, Florida, as further modified by Modification of Mortgage dated August 24, 2013, recorded at O.R. Book 2398, Page 334, of the Public Records of Highlands County, Florida, as further modified by Modification of Mortgage dated August 24, 2014, recorded at O.R. Book 2462, Page 455, of the Public Records of Highlands County, Florida, and as further modified by Modification of Mortgage dated August 24, 2016, recorded at O.R. Book 2551, Page 1434 of the Public Records of Highlands County, Florida; and

WHEREAS, TRUST, by Quit Claim Deed dated January 21, 2011, recorded in O.R. Book 2269, Page 1155, of the Public Records of Highlands County Florida, transferred to BOARD OF COUNTY COMMISSIONERS OF HIGHLANDS COUNTY, a political subdivision of the State of Florida, (“COUNTY”), whose address is 600 South Commerce Ave., Sebring, Florida 33870, all right, , and interest, in and to the described therein, including, but not limited to, all rights of reversion retained by TRUST, in the Warranty Deed recorded in O.R. Book 2200, Page 438, of the Public Records of Highlands County, Florida; and

WHEREAS, by Partial Release of Reversionary Interest dated June 21, 2011, recorded in O.R. Book 2287, Page 672, of the Public Records of Highlands County, Florida, COUNTY released and terminated sub-paragraphs b., c., d., e., and f. of the retained right of reversion contained in numbered paragraph 4 of that certain Warranty Deed dated July 23, 2009, recorded in O.R. Book 2200, Page 438, of the Public Records of Highlands County, Florida; and

WHEREAS, by Partial Release of Reversionary Interest dated February 14, 2012, recorded in O.R. Book 2314, Page 1774, of the Public Records of Highlands County, Florida, COUNTY released and terminated sub-paragraph a. of the retained right of reversion contained in numbered paragraph 4 of that certain Warranty Deed dated July 23, 2009, recorded in O.R. Book 2200, Page 438, of the Public Records of Highlands County, Florida; and

1 WHEREAS, HABITAT, has requested that COUNTY subordinate the retained right of reversion contained in numbered paragraph 4 of that certain Warranty Deed dated July 23, 2009, recorded in O.R. Book 2200, Page 438, to the Mortgage dated August 24, 2010, recorded at O.R. Book 2252, Page 209, as modified by the Modification of Mortgage dated August 24, 2011, recorded at O.R. Book 2320, Page 372, and as further modified by Modification of Mortgage dated August 24, 2012, recorded at O.R. Book 2345, Page 990, as further modified by Modification of Mortgage dated August 24, 2013, recorded at O.R. Book 2398, Page 334, as further modified by Modification of Mortgage dated August 24, 2014, recorded at O.R. Book 2462, Page 455, and as further modified by Modification of Mortgage dated August 24, 2016, recorded at O.R. Book 2551, Page 1434, all of the Public Records of Highlands County, Florida.

NOW, THEREFORE, for and in consideration of the sum of Ten and no/100 Dollars ($10.00), and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, COUNTY hereby subordinates the retained right of reversion contained in numbered paragraph 4 of that certain Warranty Deed dated July 23, 2009, recorded in O.R. Book 2200, Page 438, to the Mortgage dated August 24, 2010, recorded at O.R. Book 2252, Page 209, as modified by the Modification of Mortgage dated August 24, 2011, recorded at O.R. Book 2320, Page 372, and as further modified by Modification of Mortgage dated August 24, 2012, recorded at O.R. Book 2345, Page 990, and as further modified by Modification of Mortgage dated August 24, 2013, recorded at O.R. Book 2398, Page 334, and as further modified by Modification of Mortgage dated August 24, 2014, recorded at O.R. Book 2462, Page 455, and as further modified by Modification of Mortgage dated August 24, 2016, recorded at O.R. Book 2551, Page 1434, all of the Public Records of Highlands County, Florida. IN WITNESS WHEREOF, BOARD OF COUNTY COMMISSIONERS OF HIGHLANDS COUNTY, a political subdivision of the State of Florida has set its hand and seal this ______day of January, 2017. HIGHLANDS COUNTY, a political subdivision of the State of Florida Witness: ______BY ITS BOARD OF COUNTY COMMISSIONERS Print Name: ______By: ______Witness: ______Don Elwell, Chairman Print Name: ______(Official Seal)

Witness: ______ATTEST: Print Name: ______By: ______Witness: ______Robert W. Germaine, Clerk of Court Print Name:______

STATE OF FLORIDA COUNTY OF HIGHLANDS The foregoing Subordination of Right of Reversion was acknowledged before me this ______day of January, 2017, by Don Elwell and Robert W. Germaine as Chairman and Clerk of the Board of County Commissioners of Highlands County, a political subdivision of the State of Florida, who [ ] are personally known to me [ ] or have produced ______as identification. ______Printed Name:______Notary Public, State of Florida (Affix Notarial Seal) My Commission Expires:______

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